Bank of New York Mellon Corp lifted its position in Kirkland’s, Inc. (NASDAQ:KIRK) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,707 shares of the specialty retailer’s stock after purchasing an additional 2,310 shares during the period. Bank of New York Mellon Corp owned about 1.17% of Kirkland’s worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund increased its stake in shares of Kirkland’s by 0.9% in the second quarter. Texas Permanent School Fund now owns 10,687 shares of the specialty retailer’s stock worth $110,000 after purchasing an additional 97 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Kirkland’s by 3.6% in the first quarter. Wells Fargo & Company MN now owns 10,533 shares of the specialty retailer’s stock worth $131,000 after purchasing an additional 363 shares in the last quarter. Cigna Investments Inc. New purchased a new stake in shares of Kirkland’s in the second quarter worth $138,000. Nationwide Fund Advisors increased its stake in shares of Kirkland’s by 0.7% in the first quarter. Nationwide Fund Advisors now owns 11,304 shares of the specialty retailer’s stock worth $140,000 after purchasing an additional 76 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its stake in shares of Kirkland’s by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 13,992 shares of the specialty retailer’s stock worth $174,000 after purchasing an additional 2,112 shares in the last quarter. 87.35% of the stock is owned by hedge funds and other institutional investors.

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Kirkland’s, Inc. (KIRK) opened at 11.86 on Tuesday. The company has a market cap of $189.89 million, a price-to-earnings ratio of 22.85 and a beta of 1.23. Kirkland’s, Inc. has a 12 month low of $8.17 and a 12 month high of $17.41. The company’s 50 day moving average is $11.41 and its 200-day moving average is $10.59.

Kirkland’s (NASDAQ:KIRK) last issued its quarterly earnings results on Tuesday, August 22nd. The specialty retailer reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.04. The company had revenue of $131.68 million during the quarter, compared to analyst estimates of $125.44 million. Kirkland’s had a net margin of 1.40% and a return on equity of 6.59%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) EPS. On average, analysts expect that Kirkland’s, Inc. will post $0.57 earnings per share for the current fiscal year.

Kirkland’s announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 22nd that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

A number of analysts have recently issued reports on KIRK shares. B. Riley reissued a “buy” rating and issued a $14.50 price objective on shares of Kirkland’s in a research note on Monday, August 28th. Zacks Investment Research raised shares of Kirkland’s from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Wednesday, August 23rd. Finally, Sidoti raised shares of Kirkland’s from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a research note on Tuesday, August 22nd.

About Kirkland’s

Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.

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Institutional Ownership by Quarter for Kirkland`s (NASDAQ:KIRK)

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